The estimated value of BP's brand has fallen by nearly $1 billion since the April 21
st explosion on the Deepwater Horizon, according to a new report by technology firm General Sentiment.
The Media Value Report, which measures the oil giant's reputation, shows nearly unprecedented levels of negative sentiment online. Since June 1
st, BP has lost more than $32 million a day in
brand value.
"Our industry-leading online Media Value analysis shows a devastating amount of brand value being lost by BP since the start of this disaster," stated General Sentiment CEO Greg
Artzt. "While news reports are focusing on BP's financial losses, the company's brand reputation—and the tangible value behind it— is in a free fall. As a brand, BP may never
fully recover from this catastrophe. "
General Sentiment said it calculates Media Value using a patent-pending technique that weighs mentions based on their sentiment and exposure, assigning
an advertising-equivalent dollar value. Processing and analyzing over 30 million sources of content a day, the system provides unprecedented accuracy in calculating true online Media Value.